Wealth Enhancement Advisory Services LLC Sells 9,172 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Wealth Enhancement Advisory Services LLC lowered its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,469 shares of the pharmaceutical company’s stock after selling 9,172 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Vertex Pharmaceuticals were worth $30,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Lee Johnson Capital Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $721,000. Police & Firemen s Retirement System of New Jersey boosted its stake in Vertex Pharmaceuticals by 3.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock worth $17,378,000 after buying an additional 1,393 shares in the last quarter. Bailard Inc. increased its holdings in Vertex Pharmaceuticals by 0.5% in the 2nd quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock valued at $16,983,000 after buying an additional 200 shares during the period. SteelPeak Wealth LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at $10,059,000. Finally, Moody Lynn & Lieberson LLC raised its stake in shares of Vertex Pharmaceuticals by 1.4% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock valued at $25,856,000 after buying an additional 822 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $440.31 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68. The stock has a market capitalization of $111.71 billion, a PE ratio of 31.05 and a beta of 0.31. The stock’s fifty day moving average is $447.25 and its 200-day moving average is $426.90.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the company earned $4.38 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 4,500 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total transaction of $2,137,455.00. Following the completion of the transaction, the executive vice president owned 42,293 shares in the company, valued at approximately $20,088,752.07. This represents a 9.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles F. Wagner, Jr. sold 9,532 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $461.00, for a total value of $4,394,252.00. Following the completion of the sale, the executive vice president directly owned 37,725 shares in the company, valued at approximately $17,391,225. This represents a 20.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 165,105 shares of company stock worth $73,858,523 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank Of Canada lowered their target price on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. JPMorgan Chase & Co. upped their price objective on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. UBS Group initiated coverage on Vertex Pharmaceuticals in a report on Tuesday, January 6th. They issued a “buy” rating and a $535.00 target price for the company. Barclays boosted their price target on Vertex Pharmaceuticals from $408.00 to $414.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Finally, Scotiabank started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $495.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $503.80.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.